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1) The unit of account with the largest capitalization! throughout history (including surpassing the capitalization of the dollar)
2) Currency with biggest real value!.
In addition, even the popularization of this idea can increase the current price of bitcoin by orders of magnitude.
And this idea is the idea of global bitcoin rent to the earth.
Unfair distribution of land between countries
All useful territory of the planet earth is distributed between different countries. However, there are no objective reasons why a some countries owns a certain part of the land. Since the land and the resources that are located on it appeared without the participation of states and long before the appearance of the first of them.
In fact, the land was divided between countries during a series of military operations and the seizure / loss of territories. And in the future, lands began to be recognized by states on the basis of “historical justice” and because of the impossibility of further military redistribution of territories.
As a result, there are many countries that produce virtually nothing, and receive substantial incomes only because they were able to take away a piece of land from other state military groups at one time.
Global rent
A fairer and more beneficial option for the global economy (as well as for most people) would be a system of rent on land rather than ownership. In such a system, states do not own their territory, but rent it from the world community for a certain period (50,100,200 years).
Then the lands will be exploited by those states that are able to create the most efficient infrastructure and economy on it, and not by those that like to fight and spend a substantial part of taxes on the military-industrial complex.
Rent in Bitcoins
The practical implementation of global rents became possible only after the appearance of bitcoin.
The amount of rent collected from the states will be astronomical and exceed the budget of any of the largest states. It is almost impossible to collect and effectively redistribute such a volume of funds without the use of Bitcoin and its blockchain.
In the absence of bitcoin, a global supranational fund would have to be created in which corruption would necessarily arise. And with such a volume of fees, there would also be a problem with the choice of currency in which to accept the rental fee. Since the choice of any national currency (dollar, for example) would significantly increase the influence of the state that issued it and the global rent system would cease to be objective and independent.
Even if it were possible to create such a fund and find a suitable currency, one more problem would arise associated with the redistribution of the rent received among the world's population. Firstly, it is practically impossible to count all the inhabitants of the earth, and secondly, sharing all rent from all the inhabitants of the planet is at least not very fair.
The only possible implementation of global rent is the payment of rental fees in bitcoins.
After the state wins global tenders for renting a certain territory, it is obliged to destroy the amount of bitcoins equal to the rent, by sending them to a predetermined non-existent (inaccessible) address.
What happens as a result:
- The state pays the rent of the territory for the agreed period
- Payment of rent occurs in the global supra-state unit of account (bitcoin)
- The bitcoin blockchain stores publicly available information confirming the fact of the destruction of bitcoins and payment of rent
- The value of destroyed bitcoins is redistributed among all other holders of bitcoin. Since the total numbers of bitcoins is reduced and its price is growing slightly.
To do the same, for example, using gold would be problematic. Since it is extremely difficult to create a system that would confirm the physical destruction of gold.
New Bitcoin Value
The principle of rental payment described above makes Bitcoin the currency with the largest capitalization.
All states will want to have in reserve not dollars or gold, but bitcoins. Since the presence of such a reserve gives significantly more territorial security than a gold and foreign exchange reserve. Gold may be needed mainly in case of war. And there will be practically no war for territories with global rent.
Global rent will create a stable and substantial demand for bitcoin from the side of states. And its capitalization will easily surpass the capitalization of gold, and possibly the capitalization of the entire dollar mass.
When the state pays rent, the value of this rent is distributed among all bitcoins holders. That is, all global rent from the whole earth is transferred to the holders of bitcoins. Which actually means that owning bitcoin is equivalent to owning a particle from all the resources of the earth - oil fields, agricultural land, tourist places, etc. What will make bitcoin the currency with the greatest real value.
With such a system, everyone has the opportunity to buy an asset that is provided with all the resources of the planet and is protected by cryptography. Which is much better than a formal document in the form of shares on a formal right to receive a part of the company's income, which can actually be seizure by the state if necessary.
Also, owning bitcoin will be more profitable than owning real estate, since it is not tied to the territory and does not bear the risks of the economy of a particular country. And the received rental yield of Bitcoin will be comparable to the profitability of real estate. In such a future, you do not need to take a loan for an apartment - instead, it is better to accumulate bitcoins and live anywhere in the world.
Who benefits from global rents?
First of all, of course, to current Bitcoin holders
The global rent is beneficial to the overwhelming majority of the civilized population, with the exception of a small part of local officials and security officials who receive a stable income due to the monopoly on the operation of the territory they control.
With global rents, competition among state economies will increase. And economic efficiency will become more important than political and military force. States will begin to spend more efforts on creating conditions for economic growth, rather than on military power and internal political control.
At the level of specific states, global rent is beneficial to technologically developed countries with small natural resources (Japan, for example). With global rents, states with an efficient economy will become more influential and gain access to world resources that they now have to buy from other states, controlling certain territories.
As a result, not only crypto enthusiasts but also quite influential states can take part in the promotion and implementation of the idea of global rent of earth.
Where to begin?
Global rent implies significant changes at the global level and to some extent looks utopian.
But we can begin to apply the principle of bitcoin rent on simpler things, gradually moving towards global rent throughout the earth. One of the first areas of application of the described mechanisms may be the payment of various environmental fees. For example, payment of quotas for greenhouse gas emissions. In the absence of global rent, quotas are distributed between states, after which those countries that do not need them sell them, and in fact receive income without making any efforts. It would be fairer to conduct bitcoin trading on quotas similar to those described in the article trading on land.
After environmental quotas, the principle of bitcoin rent can be extended to pay fees for the use of neutral waters (fishing), for the right to hold the next Olympiad, etc.
When states get used to paying fees in bitcoins, we can proceed to resolve issues related to disputed territories. In relation to such territories, it is possible to start conducting the first tenders for land in which two countries participate.
If influential states with a strong economy see a lot of precedents for rent in disputed territories, such disputed territories will begin to become more and more ...
Movement for global rent
In order for the first steps towards global rent to be realized, widespread popularization of this idea is necessary. Why it is desirable to create an appropriate social movement.
Even if the idea of global rent is not realized, the mere dissemination of this idea can greatly increase the current price of bitcoin. Since it has additional potential value and, as a result, new fundamental reasons for growth. For states, this will mean the emergence, albeit possibly unlikely from their point of view, of risks, but with the potential danger of completely losing their territories. And if we assume that the risk is only 1%, then this is already enough to start buying bitcoins to the state reserves.
